Fifth Third Bancorp in Cincinnati is buying an insurance agency in its hometown.
The $142 billion-asset Fifth Third said in a press release Monday that it had agreed to buy R.G. McGraw Insurance Agency, a firm that specializes in property and casualty insurance for companies and affluent individuals. The agency also provides risk management analysis.
The deal is expected to close next month. Financial terms were not disclosed.
It is the second nonbank M&A transaction for Fifth Third in two months. In January
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